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Nasdaq hits a fresh record as equities climb despite higher yields

The S&P 500 closed just 0.3% below its own peak, while gains showed broad participation and an unusual sector mix.

Reported · Written up by our desk · Indices

Equities rose on Monday, with the Nasdaq setting a fresh record and the S&P 500 closing just 0.3% below its own peak, according to a Danske Research Team newsletter.

Danske Research Team said stocks advanced despite another backup in long term yields, adding that the rally reflected positive market breadth and was not driven solely by technology.

The newsletter described the move as a broader catch up session rather than a classic risk on or inflation relief trade, citing an unusual sector mix.

Danske Research Team noted materials, communication services, energy, and banks among the outperformers, while defensives including healthcare and consumer staples were also strong, and industrials and real estate lagged.

Latest closeS&P 500 7,773.95 ▲0.7%|Nasdaq Comp. 27,477.31 ▲1.1%

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